Cardinal Point Wealth Management, an independent cross-border wealth management firm with offices in the US and Canada, announced that GMG Private Counsel ULC (part of the GAVIN Hockey Wealth Specialists group) will combine with CPWM on or about June 1, 2024 to provide expanded financial planning, wealth management, investment and related services to active and retired professional athletes through CPWM.
GAVIN Wealth & Wellness ULC (which is part of GAVIN) will be renamed Cardinal Point Athlete Advisors as part of this transaction and Cardinal Point’s professional athlete management team each provides multifamily office and related services to active and retired professional athletes.
GAVIN is a multifamily office that offers customized financial planning, investment, insurance and business management services to both active and retired professional hockey players.
Cardinal Point is expected to service about 200 active and retired professional hockey players upon completion of this transaction. ANd Cardinal Point Athlete Advisors clients will be able to utilize CPWM’s portfolio management team that after the completion of the transaction is expected to oversee almost $2.9 billion of private client assets. Plus, the leadership team for Cardinal Point Athlete Advisors will include Matthew Bacchiochi, who is currently the President and Co-Founder of GAVIN, in the capacity of Managing Director, and Chris Slawson, Vice President at GAVIN, along with Director Tyler Skinner who currently manages Cardinal Point’s professional athlete management team.
KEY QUOTES:
“For more than twenty years, we have been committed to continuously enhancing our customer experience and improving financial outcomes for our clients. This transaction will bring more tax expertise and broader investment capabilities to our clients, while deepening our leadership in the hockey market.”
– Stew Gavin, Chairman and Co-Founder of GAVIN Hockey Wealth Specialists
“The business affairs of professional athletes are always evolving and becoming more complex, not only during their careers, but when they transition away from the game. I am thrilled that our clients will be able to benefit from the combined experience of our two firms. The founders of each legacy business have been advising active and retired players in the hockey community since the 1990s.”
– Grant Skinner of Cardinal Point
“By combining these two firms, we will possess specialized skills, the proper structure and systems, and expanded resources to expand and enhance our services to our clients. We have a steadfast focus on developing and nurturing quality relationships and improving the well-being of professional athletes and their families. This union is purposefully designed to help our clients achieve their goals.”
– Matthew Bacchiochi
